ETH/USD may slow Dow at 4000-4500 Zone

ETHUSD completes five wave cycle of V of (III).
It May Slowdown in 4000-4500 Fibonacci cluster area.
Beware of a Reversal or slowdown.

Gregor Horvat Wavetraders

ETHUSD is extending its bullish rally with impulsive wave V of (III), which can be now clearly seen with a five-wave cycle that can be approaching the end, as we see it nearing next important Fibonacci cluster. However, because of very strong rise in the last couple of days, we have to consider that ETH is still trading in an extended five-wave cycle. But in any case, watch out for limited rise and be aware of a reversal or slowdown in the projected of 4000-4500 Zone.

ETH/USD daily Elliott Wave analysis chart

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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